Loan Early Prepayment Soft Penalty Terms

Definition

Loan Early Prepayment Soft Penalty Terms. Early repayment penalty in the event of the loan being paid off in order to refinance with the same lender.

These terms may cover:

• Prepayment Penalty Period
• Prepayment Penalty Amount and
• whether or not there is provision for a waiver of the penalty

See Also

• Loan Early Prepayment Hard Penalty Terms

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.